IGC Pharma (NYSEMKT:IGC) Stock Rating Lowered by Zacks Research

IGC Pharma (NYSEMKT:IGC) was downgraded by research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued on Wednesday,Zacks.com reports.

IGC Pharma Stock Up 9.8%

Shares of IGC traded up $0.03 during mid-day trading on Wednesday, hitting $0.36. The company’s stock had a trading volume of 214,616 shares, compared to its average volume of 913,992. The company has a current ratio of 1.15, a quick ratio of 0.98 and a debt-to-equity ratio of 0.02. The company’s 50-day moving average is $0.40 and its 200-day moving average is $0.36. IGC Pharma has a 52-week low of $0.25 and a 52-week high of $0.48. The firm has a market capitalization of $32.92 million, a price-to-earnings ratio of -3.26 and a beta of 1.07.

IGC Pharma Company Profile

IGC Pharma, Inc, a clinical stage pharmaceutical company, engages in developing treatments for Alzheimer’s disease. The company’s lead product is IGC-AD1, which is in a Phase 2B clinical trial as a treatment for agitation in dementia due to Alzheimer’s; and TGR-63, IGC-1C, IGC-M3, and LMP in pre-clinical development.